Germany is taking control of three Russian-owned refineries in the country to ensure energy security before an embargo on oil from Russia takes effect next year, officials said Friday. Two Continue Reading
Underlining Russia’s widening isolation on the world stage, Prime Minister Narendra Modi of India told President Vladimir V. Putin on Friday that it is no time for war — even Continue Reading
Saudi Arabia emerged as the second-biggest oil supplier to India after a three-month gap, overtaking Russia by a thin margin, while Iraq retained the top spot in August, data from Continue Reading
European Union lawmakers voted on Wednesday to raise the bloc’s targets to expand renewable power and save energy, backing proposals that had been made more ambitious in a bid to Continue Reading
The European Union’s executive outlined plans on Wednesday to raise more than $140 billion from energy firms to help shield households and businesses from soaring prices that threaten economic recession Continue Reading
The US shale industry has warned it cannot rescue Europe with increased oil and gas supplies this winter amid fears that a plunge in Russian exports will send crude prices Continue Reading
Ongoing coronavirus lockdowns impacting Chinese demand China also diversifying crude imports from other suppliers Further expanding energy cooperation is set to be high up the agenda when Russian President Vladimir Continue Reading
One-off tax to target ‘surplus’ oil, gas, coal profits in 2022 Minimum excess tax rate of 33% proposed EU oil industry flags concern over tax calculation The European Commission proposed Continue Reading
IEA: EU ban on Russian seaborne crude may take 2.4 million bpd off the market. IEA: Total Russian oil production will decline to 9.5 million bpd. European countries are importing Continue Reading
Russia and China are making moves to dethrone the U.S. dollar in global oil markets. Russian and Chinese hydrocarbon giants, Gazprom and China National Petroleum Corporation, have agreed to switched Continue Reading
Lower fuel prices caused an unexpected fall in British inflation in August, official figures showed on Wednesday, offering some respite to households and the Bank of England after inflation hit Continue Reading
The European Commission on Wednesday unveiled a series of proposals to curb the energy price spike that has rocked Europe in the wake of Russia’s invasion of Ukraine, while stressing Continue Reading
Norway’s Equinor became the first Western oil major to fully exit Russia this month, avoiding the high-profile clashes with Moscow experienced by some rivals – but it also paid a Continue Reading
The European Union will propose measures to cap revenues from low-cost electricity generators and force fossil fuel firms to share the profits they make from soaring energy prices, European Commission Continue Reading
Russia’s oil-export revenue contracted to $17.7 billion in August, the lowest since at least March, as a decline in crude prices more than offset higher supplies abroad, according to the Continue Reading
Brussels has said it will raise more than €140bn from windfall taxes on energy companies’ profits to soften the blow of record high energy prices this winter. With energy prices Continue Reading
The European energy shortage has forced authorities across the continent to take extreme measures to reduce and encourage the reduction of energy consumption. The Mayor of Paris has said that Continue Reading
STRASBOURG, Sept 14 (Reuters) – The European Commission on Wednesday unveiled a series of proposals to curb the energy price spike that has rocked Europe in the wake of Russia’s Continue Reading
Fossil fuel firms may have to share their excess profits to help European households and industries cope with red-hot energy bills, a draft European Union plan showed on Monday as Continue Reading
BRUSSELS, Sept 12 (Reuters) – European Union countries can use 225 billion euros ($227.57 billion) in untapped loans from the EU’s recovery fund to address energy problems and other challenges Continue Reading
French scepticism about a new gas pipeline across the Pyrenees highlights the competing visions for Europe’s future energy mix as the continent urgently confronts a power crisis. MidCat would be Continue Reading
In July, Germany reported a 45.8% reduction in imports from Russia compared to a year ago, but the value of those imports had increased by over 10%. This increase in Continue Reading
The European Union is preparing to propose a plan that would force fossil fuel companies taking in windfall profits from surging oil and gas prices to submit financial contributions to Continue Reading
Public Policy This is part two of a condensed and lightly edited transcript of an interview with Soviet and Russian energy specialist Thane Gustafson. In part one, he described the Continue Reading
The Kremlin said on Tuesday there was no discussion of a nationwide mobilization to bolster the country’s military campaign in Ukraine, days after a surprise Ukrainian offensive drove Russia out Continue Reading
The European Union is retreating from imposing a price cap on Russian gas, but pushing ahead with windfall taxes on energy companies’ surplus profits, the Guardian reported on Tuesday, citing Continue Reading
French farmers are collecting their smallest corn crop in more than three decades, highlighting the massive toll that summer drought has wrought on Europe’s food supplies. Heat and dryness gripped Continue Reading
Natural gas prices fell for a third day as the European Union pushes ahead with its market intervention to ease the worst energy crisis in decades. Benchmark prices dropped as Continue Reading
Germany is set to use a fund created to help companies cope with the economic hit from the pandemic to provide loan guarantees for struggling energy firms, according to a Continue Reading
China and India hold the key to the success, or failure, of a price cap on Russian oil proposed by the G7. Asia’s largest oil consumers are expected to buy Continue Reading
Germans could overload their power grid as they switch to inefficient electric heaters in an attempt to avoid gas shortages this winter, utilities warned in an article published on Sunday. Continue Reading
Europe’s largest nuclear plant has been reconnected to Ukraine’s electricity grid, allowing engineers to shut down its last operational reactor in an attempt to avoid a radiation disaster as fighting Continue Reading
European farm and food groups said soaring energy prices could lead to shortages of fruit and vegetables, as high utility bills force more companies to curb production. “Refrigeration and cooling Continue Reading
Ukrainian forces swept further across territory seized from fleeing Russian troops on Monday, as Moscow grappled with the consequences of the collapse of its occupation force in northeastern Ukraine. Ukraine’s Continue Reading
More European energy companies have secured extra funds from governments and banks as soaring gas and power prices following Russia’s invasion of Ukraine have driven up margin call requirements and Continue Reading
European industry thrived for decades on a steady supply of cheap Russian gas , which flowed uninterrupted throughout the Cold War and other times of tension between Moscow and the Continue Reading
Estimates show that Europe has more recoverable shale gas than the U.S. Despite its huge gas reserves, hydraulic fracturing has many opponents in Europe. Fracking in Europe has long been Continue Reading
Ineos has renewed its offer to the UK government. Ineos has announced that it is renewing its offer to the UK Government and new Prime Minister Liz Truss to drill Continue Reading
Russian President Vladimir Putin confirmed Wednesday while addressing the Eastern Economic Forum (EEF) in Vladivostok that he will soon meet with Chinese President Xi Jinping, which will mark a significant Continue Reading
European Union energy ministers met on Friday to seek agreement on ways to shield citizens from sky-high energy prices and prevent power utilities from collapsing as Russia has gradually turned Continue Reading
VNG (VNG.UL), one of Germany’s biggest importers of Russian natural gas, on Friday asked the government for aid to stay afloat, the latest European energy firm to seek state support Continue Reading
Russia will send the first shipment from its newest liquefied natural gas terminal to Greece, a surprise destination as Europe tries to reduce its dependency on Moscow for energy supplies. Continue Reading
EU energy ministers are calling for a 10% reduction in electricity consumption. According to the WSJ, the electricity rationing plan appears to have support from many member states. Today’s emergency Continue Reading
Ukrainian officials shared photos on Saturday showing troops raising the nation’s flag over the main railway city that has supplied Russian forces in northeastern Ukraine, as a collapse in Russia’s Continue Reading
South African utility Eskom will escalate rotating power cuts from Friday afternoon until Monday morning, it said on Friday, citing a loss of generation capacity. Thomson Reuters Products View full Continue Reading
Germany and Europe are prepared to weather the fallout should Russia decide to halt gas deliveries altogether, the country’s chancellor Olaf Scholz said in a statement Saturday. Germany has prepared Continue Reading
President Vladimir Putin said on Wednesday he wanted to discuss reopening a U.N.-brokered deal that allows Ukraine to export its grain via the Black Sea after accusing Kyiv and the Continue Reading
As Russia struggles to maintain its offensive in Ukraine, Putin is attempting to leverage the country’s vast energy influence to squeeze the West. Putin’s aggressive use of energy exports is Continue Reading
The UK’s new Prime Minister is set to unveil a substantial energy support package. The package will encourage North Sea drilling and potentially lift a ban on fracking. While Truss Continue Reading
British households will have their annual energy bills capped at £2,500 for two years in a £130bn+ scheme that will save consumers thousands of pounds. Prime Minister Liz Truss said Continue Reading
